New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-20

gross earnings for the second week in December,
aggreGating total of s2,527,35o against s2,171,-
ITO Tor the week In 1864 gain Of 1856, 630 or
1877 per cent; the increased mileage Of the twen-
ty-eight roads is about per cent.
The stock market was dull from beginning to
end, and the total recorded transactions amount
only 10 1865 22 shares OF which about one-quar-
Ter may be set down to Washes leav-
ing the total business requiring clearances to-
morrow at 100000 shares. The stock market is
duii and Is waiting for Developments The COM
merclal conditions railway earnings, and the COM
paratlvey low prices for stocks compared with
one year ago, when all the conditions were less
favorable than they are, all favor a specula-
ton Tor an appreciation in values. But the mar
ket wants leader. 1t now has none. Yet
nevertheless evidence daily accumulates showing
that such business is done Is done
IN phantom shares; that there is
scarcity OF real stocks in the Street:
that II buys from r 500 shares OF stock
winch may pay b n profit of per cent, c really
mas purchased contract Of to deliver 500
shares or stock which A sold short" Travel
the Street over and the information gained will
establish the fact that brokers' offices are bare
OF stocks: We knew that large amount has
gone 10 Europe. but in addition TO that there has
generally appreciated. For the time being spccu-
hton IS dead and except for the large outstand-
ing short interest, which must work for sal
WALTON all the time the transactions at the Stock
Exchange probably would he less than they are.
II is the necessity Of continuous work for de-
preston which gives 10 the market what little OF
activity IL has But there exists very large
short interest which must be liquidatcd. The
question of the hour is, will the makers or the
holders ~ the contracts name the price at which
the settlements shall he madcl or course the
lGf ftt.. l.. IL ,aI
neither IS the fact that the diSa grccments there
which are certain to he Of short duration have
already been discounted r. the extent Of 0a20
per cent in The prices ~ stocks. There is
reason 20 doubt that the receiver of Wabash
FaStcrnl will We brouolt to time quickly as
the Grand Trunk If Canada rcccntlv was. BE hc
president OF dividerd-pavinr company. or re-
ccivcr Of bankrupt company he is supcrhuman
II h" long continues fight against n dozen united
competitors
QUIET DAY IN STOCKS
The stock market opened quiet and steady
London came with strong quotations hut reports
OF n Guirt market From first prices there
some Improvement but the demand was light and
the market quickly driftcd into board room
trading ilair. Is LARGO majority OF ~" board
room traders arc " bears on the dulncsS OF the
speculation. Of course when the market waS de-
livcrrl over 10 them there was general sagging
Of pricc> further decline in Richmond ana
West Point 10 u 1-fa9l "a was not without
some influence on the local trading. althoueh
every thinking operator knows that the lower
that stock sDl'. The .1f"r an oncr2'on Tor advance
in GOOD stock Nru-Yorl, md Ncw-Fngland also
YVES hammered down q nor cent TO 80 for
cI ~ on thr general market rnd il was done for
account ~ one 81 tho erutlcner who one year
aro entered Tho board as rformcr with the
u~icr % tine sfor', above SO. HI" short m
tor.., i-, ,h, General marriott was materially In
creased by the dpv's operations. ard becanS" 81
suoh sales the CLOSING rrico- show more or less OF
declines bu' IT, closed stcadr without a trace OF
on<f.fy ou tic pert - real hol!"rs
COVERNNTNr PONDS STRONG.
Government bonds were dull. but the quota
tions were advanced IL per cent far the ana
IL rcr cents Annexed are the closing quota
tiDuc: